I’ve just returned from a trip to the UK. I’m always amazed at how estate agents operate over there. If I wanted to buy a property in my home city of Bath, I would probably need to contact seven or eight different agents because each of them insists on only showcasing their own exclusive listings.
The last time I purchased a property in the UK, I found myself telling nine different agents the same story during a mind-numbing week… over and over. “Yes, I’m buying for investment… yes I want period features… yes I want a view… yes I want two bedrooms”… on and on, the same qualifying questions, and the same responses. Some of the properties I liked, some of the agents I liked, but it felt like I was doing all the leg-work and the agents were just opening the doors.
The role of estate agents on the Costa del Sol is very different. We deal with a wide variety of clients, most of whom are international buyers with a limited amount of time here on the ground in which to look at properties and inspect the array of options available. While a UK city may have 10 to 20 prominent estate agents, here on the Costa del Sol there are over 300. The last thing a buyer should have to do is to contact 300 agents in order to get an idea of what’s on offer!
We overcome this potential hurdle by operating an MLS (a multi-listing system). Originating in the United States, this system allows agents to list a property as normal, but to showcase that same property with some or all of their neighbouring agents. The advantage to the listing agent is that it drastically improves their prospects of a sale, particularly in a market like the Costa del Sol, where clients originate from a huge variety of sources. For the selling agent, it means that they can access a vast portfolio of stock in an instant, ideal if they want to offer the client an unlimited choice, or if time is running out.
Any agent that is not a member of a reputable MLS here on the Coast really needs their head examined. I know some agents who are expert “listers” but don’t have the resources or inclination to market their portfolio to a wider audience. By simply uploading their properties onto the MLS, their marketing is done by other agents. In contrast, there are several excellent “property finders”, agents who spend a fortune on attracting client enquiries and cultivating the client relationship, but are reliant on other agents for the stock that they hope to sell.
Interestingly, it is mainly UK buyers who are suspicious of this system. They are so accustomed to a sole agency arrangement back home that they often contact several agents here in Spain before embarking on a viewing visit… with ALL of them! This can often lead to wasted time and a repetition of work for the client. My advice is to forge a relationship with one agent before making the trip, making sure that the agent has access to all available properties via the MLS. This way, the working relationship and the time you spend with your agent once you are here should prove more productive, and you will ultimately stand a greater chance of finding the property you want.
Conversely, if you are a seller, make sure to ask the agent(s) listing your property how they intend to utilise the MLS systems. Some will just upload the property and actually forget to do anything else, while some will be particularly proactive about promoting the benefits of your property to other agents. Sound them out and give your business to the agents who will WORK for their commission.
No agent can ever guarantee that they have the buyer for your property. But your buyer is out there somewhere. By using a proactive agent who knows how to best utilise the MLS, you stand the best chance of selling… and buying!
Sean Woolley, our resident property expert, can be contacted at Cloud Nine Spain: Centro Comercial Guadalmina 4, Local 88, San Pedro de Alcántara; Tel. (+34) 692 254 432; sean@cloudninespain.com; www.cloudninespain.com
What’s Hot!
Diamond Beach – new contemporary villas, beachside on the Golden Mile.
Tarifa – some of Spain’s best beaches, and only an hour from Marbella.
Guadalmina – where the smart Spanish set choose to buy.
La Heredia – a little village full of charm.
Mijas Village – beauty and tradition in the midst of tourist heaven.
